Friday, September 14, 2012

Chart of the Day: Property buying interest renewed

The high-end market has grown to accept the Additional Buyer’s Stamp Duty as part of transaction costs, says Maybank Kim Eng.

Maybank Kim Eng noted:

Not all doom and gloom. The introduction of the Additional Buyer’s Stamp Duty in December last year sent the high-end market into a stalemate. Recently, new home sales in the Core Central Region have shown initial signs of renewed interest, with 403 units sold in 2Q12, compared with 129 units in the previous quarter.

High-end segment piquing interest. We believe the market has grown to accept the ABSD as part of transaction costs. We expect buying interest to resume, albeit not to pre-GFC levels, as the investment climate in Singapore remains favourable, and the lack of alternative destinations in the region which offer such high-quality luxury products, especially on freehold tenure.

Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C
Senior Sales Director
DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G)

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